The Internet will be flooded with new domain names, after the Internet Corporation for Assigned Names and Numbers approved 100 new top-level domains. The ICANN oversees the allocation of domain names.
Until 2013, there were only 22 functioning generic top-level domains but after ICANN announced its intentions to expand this list, it received numerous applications of which it has approved 100 gTLDs so far.
Akram Atallah, President of ICANN's Global Domains Division says, "There are now almost five times more generic Top-Level domains than there were only a few months ago and that translates to greater consumer choice. We are as eager as everyone else to see what type of innovation these new Domains will usher into the online world."
The argument for adding these new domains is that with a third of websites using the domain .com, it is hard for new businesses to find suitable domain names. Another reason given for this expansion is that it will help small businesses by making it easier for search engines to find them.
The argument against this expansion is on the fact that most people rarely use the entire domain name, and just look for the website using a keyword in a search engine.